Episode
Jason Purcell on the Petrodollar System (part 3)
- Podcast
- The Brian D. O'Leary Show
- Published
- Feb 14, 2024
- Duration seconds
- 3536
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Summary
Links: Tucker talks to Vlad about the role of the U.S. dollar as the world’s reserve currency. They must have been listening to Purcell and O’Leary … https://x.com/TCNetwork/status/1755748344465342565?s=20 O’Leary side project (Natural Order Podcast) breaks down the entire Tucker-Vlad interview… https://naturalorderpodcast.com/ep18/ Possible definitions of “petrodollar” 1. Revenues from petroleum exports. Dollars paid to oil-producing nations (petrodollar recycling). The currency of oil-producing nations usually fluctuates with the price of oil. E.g.s when the price of oil rises, the currency has more value. Vice-versa … when the price of oil falls, the currency’s value drops. Thus, Petrodollar/Petrocurrency? The pricing of oil in US dollars: currencies used as a unit of account to price oil in the international market. Zoltan Pozsar – Hungarian-American “shadow banker” https://en.wikipedia.org/wiki/Zoltan_Pozsar Moscow Gold https://en.wikipedia.org/wiki/Moscow_gold_(Spain) In the first year of the Spanish Civil War, the New York Times reported on August 7, 1936, that Spanish gold reserves (held in Madrid) were the equivalent of $718 million (US), which was the equivalent to $15.14 billion in 2022 USD. Reports range from 72.6% to upwards of 90% of Spanish gold reserves were given to the USSR months after the outbreak of the civil war. The communist-backed government of the Second Spanish Republic under Francisco Largo Caballero either sold the gold to the Soviets or placed the reserves in Moscow for the Soviets to act as custodians. Well, that was a bad move. Largo Caballero and his Republican cause were eventually defeated by the Nationalist side and Spain was left broke, for most if not all of the remaining gold reserves were sold to France for currency. In the conte…